Fed cattle prices rise
Fed steers and heifers traded $2-$2.25 per hundredweight higher last week.
Total volumes for the week reported by Canfax members were slightly more than 21,500, down only four percent from the week before with one less day of trading due to the Easter holiday.
Producers appeared willing sellers on yearlings, but were hesitant on calves, Canfax said. Most of the Canfax volume is still made up of yearlings.
Alberta prices March 23 were steers $81-$85 per cwt. live, $137-$140 per cwt. flat rail and heifers $81.55-$85.55 live, $139-$140.90 flat rail.
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Large kills of 78,000-80,000 head per week recently have helped to shorten packer inventory. That might have been reversed last week with packers observing the Easter holiday. Producers will expect a stronger market in coming weeks as they anticipate the effect of the active participation in the fed cattle set-aside program, Canfax said.
U.S. cutouts took a hit with Choice down more than $5.50 US and Select down $5.25. The Calgary wholesale market for this week’s delivery is down slightly at $139-$140 Cdn.
Feeder prices firm
Feeder cattle volumes through Alberta auction markets were small with about 14,000 head trading last week. The week’s volume included one less day of trade due to Good Friday and Canfax publishing a day earlier than normal.
Volumes were 15 percent lower than the week before and 69 percent smaller than a year ago.
Price averages mostly firmed.
Steers 500-600 pounds were $6.50 higher and 600-800 lb. traded $2.25-$3.50 higher. Steers 800-900 lb. were $1 lower, while 900 lb. and heavier steers held steady.
Heifers 500-700 lb. rose $2.75-$3.25, 700-800 lb. were $1.50 higher, and 800-900 lb. traded steady to 50 cents lower. Heifers 900 lb. and heavier were $2 higher. D1, 2 cows traded steady at $30 per cwt., while butcher bulls were $2.75 higher.
Slightly stronger price averages should help draw a few more feeder cattle in the coming weeks. But buyer depth remains somewhat shallow and increased volume could pressure the market.
Continued strength in the fed market will encourage feedlots to refill pens.
Stock bred cows in central Alberta were $500-$780 in light trade.
Pig breeding herd steady
The Manitoba Agriculture hog report is not available.
The United States Department of Agriculture’s quarterly hogs and pigs report showed no evidence that the U.S. hog breeding herd is expanding.
The report matched analysts’ forecasts and was expected to have little impact on futures prices.
The total herd was up one percent from last year, but that was due to a rise in the market herd. The breeding herd was steady.
University of Missouri hog analyst Ron Plain estimated second quarter slaughter would rise about 1.5 percent from 2004, third quarter slaughter would be about the same as 2004 and the fourth quarter would close to the 2004 level.
He estimated prices in the second quarter will be steady to five percent lower than a year ago. Third quarter prices will be down five to 10 percent and the fourth quarter down 10-15 percent from 2004 because of a weaker demand.
Sheep prices weaken
Ontario Stockyards reported 3,461 sheep and lambs and 654 goats traded last week. All classes of lambs opened March 21 at steady prices, with later day sales trading $10-$15 cwt. lower.
Sheep and goats sold steady.
